INCOME TAX18 Sept 2026
Can you open multiple Post Office MIS accounts? Here’s what investors must know
Post Office Monthly Income Scheme (MIS) lets you open more than one account, but your total investment stays capped at ₹9 lakh as an individual and ₹15 lakh for joint accounts. The scheme pays 7.4% a year, monthly. You can split your money across accounts, but one deposit per account only. Check the India Post site before opening.
Key Statutory Highlights
- You can open more than one Post Office MIS account, but the combined investment cannot cross ₹9 lakh for an individual.
- Joint accounts are capped at ₹15 lakh, and each holder's share is counted as half for two adults or one-third for three adults.
- At the current 7.4% rate, a ₹9 lakh investment earns about ₹66,600 a year, which works out to ₹5,550 a month.
Actionable Advice for Taxpayers / Founders:If you plan to spread your money across more than one MIS account, add up all your holdings first to stay within the ₹9 lakh or ₹15 lakh limit, and confirm the current interest rate on the official India Post website before you open an account.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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